olivLaw · European equity research
CIE Automotive, S.A. CIE.MC
Spain · BME Madrid · ISIN ES0105630315 · Vertical: Listed companies from Spain
CIE Automotive is a producer of automotive parts and components that mainly works as a tier 2 supplier and spreads its activity across three main geographic regions. Net revenue above 3,958 mn EUR in 2025 shows the scale of the group, while stricter regulation on electrification and emissions is pushing carmakers and their suppliers to adapt products.
At the close of 05 Nov 2026, CIE Automotive, S.A. (CIE.MC) stock was 25.70 EUR (+1.18% on the day), with dividend yield 1.79%, beta 0.73, 52-week range 25.10–31.80 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.4
- neutral
- Bollinger (20, 2)
- 24.95 – 26.26
- in the upper half of the band · %B 0.57 · band width 5.1%
- SMA 50 / 200
- 25.60 / 27.38
- mixed trend
- MACD (12, 26, 9)
- -0.07 / -0.05
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.3% | +0.4% | −2.7 pp | — |
| 3 months | −1.2% | −3.3% | +2.1 pp | — |
| 6 months | −14.3% | +4.0% | −18.3 pp | — |
| Year to date | −13.6% | +8.1% | −21.7 pp | — |
| 1 year | −11.7% | +10.7% | −22.4 pp | +6.7% |
| 3 years | +2.6% | +50.1% | −47.5 pp | +31.5% |
| 5 years | +4.4% | +43.6% | −39.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 4.0 bn | 4.0 bn | 4.0 bn |
| Revenue YoY | unavailable | +0.0% | −0.1% |
| Net income | 320.2 m | 325.7 m | 335.8 m |
| Net income YoY | unavailable | +1.7% | +3.1% |
| Diluted EPS | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | 8.1% | 8.2% | 8.5% |
| Free cash flow | 295.2 m | 288.8 m | 390.5 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 842.4 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 1.8 bn EUR
- Total assets
- 5.7 bn EUR
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 17.9%
- ROA
- 5.8%
- FCF margin
- 9.9%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 4.0 bn | 4.0 bn | 4.0 bn | esef· 20 Oct 2026verified |
| Operating income | 527.7 m | 538.4 m | 542.9 m | esef· 20 Oct 2026verified |
| Interest expense | 126.3 m | 126.0 m | 110.5 m | esef· 20 Oct 2026verified |
| Pre-tax income | 449.6 m | 462.6 m | 490.2 m | esef· 20 Oct 2026verified |
| Income tax | 101.8 m | 100.7 m | 121.6 m | esef· 20 Oct 2026verified |
| Net income | 320.2 m | 325.7 m | 335.8 m | esef· 20 Oct 2026verified |
| Dividend per share | — | 0.45 | 0.46 | esef· 20 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 839.9 m | 947.5 m | 842.4 m | esef· 20 Oct 2026verified |
| Receivables | 241.9 m | 201.1 m | 188.5 m | esef· 20 Oct 2026verified |
| Property, plant & equipment, net | 1.7 bn | 1.8 bn | 1.7 bn | esef· 20 Oct 2026verified |
| Goodwill | 1.8 bn | 1.8 bn | 1.8 bn | esef· 20 Oct 2026verified |
| Intangibles (excl. goodwill) | 27.0 m | 22.6 m | 18.8 m | esef· 20 Oct 2026verified |
| Total assets | 5.7 bn | 6.0 bn | 5.7 bn | esef· 20 Oct 2026verified |
| Total liabilities | 4.0 bn | 4.0 bn | 3.8 bn | esef· 20 Oct 2026verified |
| Equity | 1.7 bn | 1.9 bn | 1.8 bn | esef· 20 Oct 2026verified |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 515.6 m | 536.8 m | 597.5 m | esef· 20 Oct 2026verified |
| Capex | 220.4 m | 248.0 m | 207.0 m | esef· 20 Oct 2026verified |
| Free cash flow | 295.2 m ≈ | 288.8 m ≈ | 390.5 m ≈ | esef· 20 Oct 2026derived |
| Investing cash flow | -273.1 m | -290.0 m | -271.1 m | esef· 20 Oct 2026verified |
| Financing cash flow | -121.0 m | -126.7 m | -375.8 m | esef· 20 Oct 2026verified |
| Dividends paid | 99.2 m | 107.8 m | 109.6 m | esef· 20 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 22.9% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
23% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 6.26 – 8.53 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · input data missing
- Dividend discount (DDM)6.26 – 8.53 (Mid 7.22)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 8.5% | 70 (vs peers) | 27% |
| FCF conversion · Quality | 116.3% | 100 (on a fixed band) | 27% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.9x | 52 (on a fixed band) | 27% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 28.1% | 100 (on a fixed band) | 18% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial52/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality85/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CIE AUTOMOTIVE SA (CIE.MC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 4.0 bn EUR in 2025; YoY growth -0.1%; net margin 8.5%; ROE 22.8%.
The estimated value range is 6.26–8.53 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 7.22 EUR, the price of 25.70 EUR leaves a potential of -71.9% (value / price − 1) and a margin of safety of -256.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 8.5%
- FCF conversion: 116.3%
- Payout ratio (FCF): 28.1%
What contradicts it
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Listed companies from Spain · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ELE.MCEndesa SA | 46.9 bn | 21.4 | 26.4% | 10.5% | +0.5% | +43% / +134% |
| AENA.MCAena S.m.e. SA | 42.6 bn | 19.9 | 24.2% | 34.0% | +8.9% | +21% / +79% |
| AMS.MCAmadeus It Group Sociedad Anonima | 26.2 bn | 19.8 | 26.9% | 20.5% | +6.1% | −6% / −5% |
| ACS.MCAcs Actividades De Construccion Y Servicios, S.A. | 21.9 bn | 23.0 | 19.9% | 1.9% | +19.7% | +7% / +134% |
| ANA.MCAcciona SA | 11.7 bn | 14.5 | 16.9% | 4.0% | +5.5% | +24% / +66% |
| FCC.MCFomento De Construcciones Y Contratas S.A. | 5.0 bn | 30.3 | 5.3% | 1.7% | +6.9% | −8% / −14% |
| FDR.MCFluidra S.A. | 3.8 bn | 21.3 | 10.9% | 7.8% | +4.1% | −17% / +4% |
| DIA.MCDistribuidora Internacional De Alimentacion SA | 2.7 bn | 20.6 | 165.6% | 2.2% | −2.7% | +51% / +380,733% |
| CMO.MCCementos Molins S.A. | 2.5 bn | 13.6 | 14.3% | 18.0% | −3.1% | +31% / unavailable |
| ENO.MCElecnor SA | 2.4 bn | 21.9 | 10.5% | 2.5% | +15.1% | −3% / +58% |
| ALM.MCAlmirall S.A. | 2.4 bn | 51.1 | 3.1% | 4.2% | +12.4% | −11% / +32% |
| FAE.MCFaes Farma SA | 1.5 bn | 19.3 | 10.8% | 13.0% | +23.7% | +3% / +57% |
| AEDAS.MCAedas Homes SA | 1.0 bn | 17.1 | 57.8% | 7.0% | −24.8% | +0% / +38% |
| EDR.MCEdreams Odigeo SA | 574.4 m | 11.5 | 21.0% | 7.8% | −0.4% | +40% / −24% |
| EAT.MCAmRest Holdings SE | 506.0 m | 31.4 | 4.3% | 0.6% | +0.1% | −34% / −61% |
| ADX.MCAudax Renovables S.A. | 468.5 m | 23.9 | 9.3% | 1.0% | −5.4% | −23% / −18% |
| ATRY.MCAtrys Health, S.A. | 200.4 m | — | -49.5% | -71.1% | +8.5% | −3% / −29% |
| ENER.MCEcoener, S.A. | 175.6 m | 32.2 | 4.2% | 6.4% | +3.6% | −34% / −6% |
| ADZ.MCAdolfo Dominguez SA | 62.9 m | 38.3 | 9.0% | 1.2% | +1.8% | +39% / +40% |
| DESA.MCDesarrollos Especiales De Sistemas De Anclaje S.A. | 44.8 m | 9.2 | 152.3% | 10.0% | +2.2% | +19% / unavailable |
| EZE.MCGrupo Ezentis SA | 29.0 m | — | — | -9.3% | +147.2% | −30% / −37% |
| CLEO.MCCompañia Levantina De Edificacion Y Obras Publicas SA | 17.3 m | 14.4 | 4.1% | 3.4% | +13.4% | unavailable / unavailable |
| AYC.MCAyco Grupo Inmobiliario, S.A. | 16.4 m | — | -33.8% | — | −100.0% | unavailable / unavailable |
| EBRO.MCEbro Foods, S.A. | 3.0 m | 0.0 | 10.0% | 7.7% | −4.0% | −0% / +19% |
| A3M.MCAtresmedia Corporacion De Medios De Comunicacion, S.A. | — | — | 7.9% | 6.9% | −2.7% | +13% / +60% |
1- and 3-year price returns: for CIE.MC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
CIE Automotive is a producer of automotive parts and components that mainly works as a tier 2 supplier and spreads its activity across three main geographic regions. Net revenue above 3,958 mn EUR in 2025 shows the scale of the group, while stricter regulation on electrification and emissions is pushing carmakers and their suppliers to adapt products.
SWOT
Strengths
- Diversification of clients and regions reduces dependence on a single project and gives investment freedom.
- Multitechnology allows production of complex components with high added value.
- Global industrial presence allows supply from several geographic areas.
Weaknesses
- The frequent tier 2 role limits direct bargaining power with carmakers.
- Activity depends on carmaker volumes, which can vary with the industry cycle.
- Water- and energy-intensive production exposes the group to cost and environmental constraints.
Opportunities
- Electrification could create demand for motors, power electronics, gearboxes and batteries.
- Investment in clean energy and efficiency could improve margins over the medium and long term.
- Versatility of components could allow fast adaptation to different propulsion types.
Threats
- Stricter climate regulation could raise compliance costs for suppliers.
- Cost pressure passed on by carmakers could reduce supplier margins.
- A rapid transition to electric vehicles could diminish demand for some traditional components.
Risks
- Cost pressure from customershigh
Carmakers could pass transition costs on to suppliers, which could affect the group's margins.
- Climate transition risksmedium
Margin, product mix and location risks are identified in the report and could influence the value of productive assets.
- Acute and chronic physical risksmedium
Extreme weather or water stress could disrupt production, although the group states its plants are not in areas with imminent climate risk.
- Technology riskmedium
If the technologies developed do not match market demand, investments could yield lower returns than estimated.
- Supply chain risklow
Dependence on raw materials and external suppliers could generate disruptions or cost increases.
Investment thesis
What would need to be true (bull case)
- Geographic and commercial diversification could support results even when some markets decline.
- Positioning in electrification products could open segments with higher added value.
- Investment in energy efficiency could improve margins if the plans are delivered as estimated.
What would break the thesis
- Cost pressure from carmakers could limit margin improvement.
- Falling demand for traditional components could offset gains from new products.
- Climate compliance costs could rise faster than revenue from new products.
What to watch
- Revenue trend by segment, especially Asia and North America2026
- EBITDA margin trend after energy-efficiency plans are applied2027
- Level of investment in electrification technologies2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group produces automotive parts and components, acting in most cases as a tier 2 supplier because carmakers (OEMs) usually play the tier 1 role. The business model rests on two strategic axes: multitechnology, meaning mastery of several technologies and processes for complex high-added-value products, and the global market, meaning the ability to industrialise and supply anywhere in the world. According to the annual report, the group reported EBITDA of 746,196 thousand EUR and profit attributable to the parent company of 335,782 thousand EUR in 2025 1.
Commercial diversification is a central element of the model: dependence on a single project or its renewal is low, which gives freedom in choosing investments. Investment discipline is supported by detailed volume sensitivity analyses, which aim to prevent projects with lower volumes than announced from permanently affecting returns 1.
The group puts emphasis on products linked to electrification, such as engine and power electronics, gearboxes and batteries, while components usable in combustion, electric or hybrid vehicles still make up an important part of the current portfolio 1.
Segments
North America
The North America segment, which includes companies in Mexico and the United States, generated net revenue of 1,174,416 thousand EUR in 2025, compared with 1,217,531 thousand EUR in 2024, with EBITDA of 228,456 thousand EUR 1.
Asia
The Asia segment, which brings together the Indian companies and those in China, recorded revenue of 935,400 thousand EUR in 2025, down from 939,966 thousand EUR in 2024, but with stable EBITDA of 174,492 thousand EUR 1.
Brazil
The Brazil segment grew in 2025, with revenue of 433,217 thousand EUR against 401,364 thousand EUR in 2024, and EBITDA rose to 85,949 thousand EUR 1.
Market context
The core market is the global automotive industry, in which the group works as a supplier to carmakers. According to the report, regulatory requirements in Europe and China are among the strictest, which forces manufacturers and suppliers to reduce their environmental footprint and support the electrification of vehicle platforms 1.
The report notes that the market is directing investment towards electrification, and zero-emission vehicles do not yet have a clear substitute for some components, which means demand for different technologies will evolve unevenly across regions 1.
Trends
- Vehicle electrificationmixed
Electrification of transport could open opportunities for high-value products linked to engines, power electronics and batteries, but it could also reduce demand for traditional components if the transition is fast.
- Stricter climate regulationheadwind
The most restrictive climate regulations in Europe and China could force suppliers to implement additional solutions to reduce their environmental footprint, which could raise costs.
- Clean energy and efficiencytailwind
Contracting clean energy and investing in photovoltaic panels and energy efficiency can reduce emissions and the energy bill, and the group expects margin improvement over the medium and long term 1.
- Cost pressure in the supply chainheadwind
The transition to more sustainable vehicles can raise the final cost, and to maintain sales volumes producers may pass cost pressure on to component suppliers 1.
Competitive position
The annual report does not explicitly name competitors, but it stresses that component suppliers compete on technology, productive flexibility and the ability to deliver anywhere in the world.
The group's declared advantage lies in multitechnology and in the diversification of clients and regions, which could reduce the impact of losing a single contract on results.
- Tier 1 and tier 2 automotive component suppliers in Europe and Asia
The analysed source does not name competitors; the group operates in the same supply chains with OEMs.
- Transmission and engine component suppliers
Competition in gearboxes and engine-related products, segments the group targets for electrification.
- Battery and power electronics component makers
Newer entrants as electrification grows; the report cites these products as strategic directions of the group.
- Local suppliers in India and China
Relevant to the Asia segment, where the group has a significant presence.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202520 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / CIE Automotive, S.A. · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.